This is an essay that developed out of a presentation at the 2024 SOMC conference at Hoover.| www.grumpy-economist.com
And now, here are my answers to the “Fed Questions.” There aren’t really right answers on most of these, but a Fed chair should understand the questions and the pro/con arguments.| The Grumpy Economist
A WSJ oped, which I can now post since 30 days have passed.| The Grumpy Economist
With a Wall Street Journal Op-Ed (ungated here) from Senator Elizabeth Warren, and a long Manhattan Institute essay last year by Dan Katz and Stephen Miran, the latter CEA Chair and Fed Board nominee, both ends of the horseshoe are calling for fundamental reform at the Fed.| The Grumpy Economist
Dan Snow at the Price Points Substack has a lovely deep dive into the 340B drug pricing program.| The Grumpy Economist
The work requirements for Medicaid are in the news.| The Grumpy Economist
Fed independence is in the news again, with the on and off again disagreements between President Trump and Chairman Powell.| The Grumpy Economist
The proposal, starting with comments from Senator Ted Cruz, that the Congress force the Fed to stop paying interest on reserves is having more legs than I thought it would.| The Grumpy Economist
Op ed at WSJ, which I can post in full now that 30 days have passed| The Grumpy Economist
I recently ran in to a lovely paper by Neil White at Amherst, “The new Keynesian Price Puzzle: Reinterpreting Inflation Dynamics.” This post is closely related to my last one on the Lucas Phillips curve and that line of work.| The Grumpy Economist
May 9 we had the Hoover Monetary Policy conference, and this year it was combined with a conference in honor of John Taylor.| The Grumpy Economist
The Hoover Economic Policy Working group hosted a panel discussion on tariffs, with Michael Bordo, Mickey Levy, Steve Davis, Stephen Redding, and Andrew Grotto.| The Grumpy Economist
I haven’t written much about tariffs, because so many other economists are doing such a great job.| The Grumpy Economist
(Disclaimer: This is a post for my academic colleagues doing monetary / fiscal policy.)| www.grumpy-economist.com
News, views, and commentary from a free market point of view. I moved from Blogger to Substack in December 2023. For previous posts back to 2011 see my Blogger page at https://johnhcochrane.blogspot.com. Click to read The Grumpy Economist, by John H. Cochrane, a Substack publication with tens of thousands of subscribers.| www.grumpy-economist.com
What do we really know about how (if) higher interest rates reduce inflation?| www.grumpy-economist.com
This is a WSJ op ed, written about the Fed’s strategy review.| www.grumpy-economist.com
I’ve been remiss about writing here, as I worked full time to finish a new paper.| www.grumpy-economist.com
Did “supply shocks” or “relative demand shocks” cause the recent inflation?| www.grumpy-economist.com
